Toni Patillo – Santa Monica and Palisades Real Estate Agent

Completing A FSBO Just Isn’t In The Cards

Before putting their home on the market so homeowners considering forgoing the help of a realtor and try to tell their homes on their own, known as a For Sale by OWner (FSBO). For a number of homeowners, this simply isn’t the best idea. Real estate agents, and perhaps even sellers that have previously attempted a FSBO, will tell you to save yourself the hassle of trying to sell on your own. Here are a few reasons as to why attempting to FSBO just isn’t in a seller’s best interest.

One of the main reasons For Sale by Owner listings aren’t that successful is because of the poor exposure they get to potential buyers. While there are websites that you can list your home on and over 90% of buyers do look online at some point in their search, the websites that homeowners have available to them aren’t as widely used by buyers as the MLS and realtor’s listing websites. Also, only about 30% of all potential buyers even look in the classified ads for a home anymore. The exposure just isn’t there for those that FSBO.

There are also a number of different individuals that a seller must negotiate with when trying to FSBO. If a homeowner’s negotiation skills aren’t top notch or they don’t know exactly what they’re talking about, this can make completing the transaction that much more difficult. Some of the people that a seller needs to negotiate with include the buyer, their agent, their attorney, home inspectors and appraisers.

Not only are the results of a FSBO less than desirable, completing one has also become more difficult. In fact, the number of people that even attempt a FSBO has fallen by 10% in the last two decades. You chalk this up to stricter regulations, more paperwork, as well as many people realizing that they can actually make more money on the sale of their home when they work with an agent.

If you or someone you know are considering selling your home on your own, you may want to think again, especially if you’re only vaguely familiar with the home selling process. Taking on such an important financial transaction and having the burden and responsibility rest on your shoulders is a lot to deal with so leave it to the real estate experts and let them sell your home.

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